remaining in seagoing employment

For as long as you remain in seagoing employment with a participating employer, benefits built up to in the Fund to 31 May 2001 will revalue (increase) each year before retirement at least on the following basis:

  • Increase in the National Average Earnings (sometimes known as Section 148 Orders) if your employer is making a 2% contribution to the Fund

Or

  • Price inflation up to 7% pa (LPI 7%) if your employer is not making a 2% contribution to the Fund

If you’re not sure whether a 2% contribution is being made on your behalf, you should contact your employer first.